The market is agitated by altcoins. Is the second half of the bull market really coming? ? ?
This week, the United States released two major inflation data for September, CPI and PPI. Overall, the year-on-year and month-on-month increases of CPI and core CPI exceeded expectations, but the year-on-year increase of CPI was 2.4%, which is the lowest since February 2021. PPI was the same as last month, which shows that inflation has further cooled down.
Goldman Sachs economists analyzed that although the two inflation data in September were both good and bad, the final value was still quite close to expectations, which shows that US inflation is approaching the Fed's 2% target, and the Fed is about to reach its inflation target.
After the release of these two important inflation data this week, traders are almost certain that the Fed will cut interest rates by a quarter percentage point at its November and December meetings respectively.
Let's talk about the US presidential election. Historically, the crypto market often rises before and after the results of the US presidential election. The results of the US presidential election will be announced on November 5, and there are only 20 days left.
In an effort to win votes, presidential candidate Harris proposed a new plan on Monday to provide loans to black entrepreneurs and other people who have difficulty in financing. The plan is to provide 1 million loans, with a maximum exemption of $20,000, and also promised to support the regulatory framework for cryptocurrencies.
The Trump family's DeFi lending project World Liberty Financial has been making continuous moves, introducing executives and preparing to publicly sell WLFI tokens.
Personal opinion: US inflation data in September was mixed but overall positive, and traders expect the Federal Reserve to cut interest rates in November and December. As the presidential election approaches, the crypto market has attracted attention, and historically it has often risen before and after the election. Harris promised to support crypto regulation to win votes, and the Trump family has made many moves in crypto projects. This shows that cryptocurrencies are important but uncertain, interest rates and political dynamics affect the market, and candidates' promises remain to be seen. The current situation brings uncertainty to the crypto market, and we should be cautious~
